PM Yingluck dismisses economic recession, saying growth only missing target

[Noistar]

It's missing target and has reduced for two successive quarters.

That's a recession right?

Unless it happens under a Thaksin-directed government, when it's a sign of genius, and shows that he ought to be allowed to come home & take the reigns again forthwith.

Perhaps the DSI might be directed to look into the problem, to discover how the Dems or former-PM Abhisit are responsible, and what they can be charged with ?

One can certainly look forward to this year's annual-report, listing achievements of the government, should make for hilarious reading !

Perhaps it might include :-

- "we weakened the Baht, helping the tourist-industry"

- "we made rice-exports cheaper, to help sell the rice-stocks"

- "we demonstrated the need, for even-more overseas-trips by the PM/FM, to promote goodwill & exports"

- "we made everyone more-equal, by reducing what they're worth, across-the-board"

- "we gave the media something interesting to report"

To somchai on the street, he won't give a dam_n unless companies start folding. However, the international community would like to feel that the pm at least understand the definition of recession.

This is like a kid explaining a report card of D,E and F.

I didn't fail, I just missed my target. Of course in Thailand no one fails....

It all comes down to TIT.

apathy will fix all the government's woes re being accountable to the electorate.

[Noistar]

she really is a halfwit....or am i being cruel to halfwits....

Who cares - She is hot and can do no wrong in my eyes.

same reply here:

http://www.thaivisa.com/forum/topic/662894-pm-yingluck-dismisses-economic-recession-saying-growth-only-missing-target/?view=findpost&p=6749918

She makes it sound it easy. A word in an ear here, a set of figures of there and the Thais will be happy. (Well the electorate won't be unhappy)

I don't know if the international community see such tinkering as a resolve to fix what may be a problem.

Surely KT can lend the government some of the Thai money he is taking care of to give the economy a boost

[waza]

Thaksinomics

"Thailand experienced a record-high current-account deficit in April of $3.361 billion, according to the BOT..... Methee Supapong, director of the central bank's Domestic Economy Department, said ..... It is the highest current-account deficit since BOT started collecting economic data in 1995." http://www.nationmultimedia.com/business/Record-current-account-deficit-30207352.html

But it would have been worse if not for debt.......

The capital account recorded a surplus of $4.166 billion from short-term borrowings by financial institutions to manage liquidity in the forex swap market and non-resident portfolio inflows. http://www.nationmultimedia.com/business/Record-current-account-deficit-30207352.html

The good news keeps coming......

"Thailand this week delivered truly shocking GDP and current account numbers for its second quarter. The answer to whether Thailand has just suffered a temporary blip will not be known for several months at least which is bad news for Prime Minister Yingluck Shinawatra. Her government faces declining popularity but wants to push through an amnesty for political activists of all colors but which is widely seen as a wedge to enable the return of her brother, Thaksin." http://asiancorrespondent.com/112271/thailand-economy/

Thailand’s baht headed for a fourth monthly drop, the longest losing streak since 2008, on concern an economic slowdown in China will hurt the Southeast Asian nation’s exports. http://www.bloomberg.com/news/2013-07-31/thailand-s-baht-bonds-fall-in-month-on-growth-risk-fed-outlook.html

How Thailand’s Botched Rice Scheme Blew a Big Hole in its Economy....

Read more: http://world.time.com/2013/07/12/how-thailands-botched-rice-scheme-blew-a-big-hole-in-its-economy/#ixzz2cpxJk4IW

and more debt......

In Thailand, robust private credit growth of over 12% on-year in recent months and high household debt add to reasons not to cut rates. The bank last cut its key policy rate in May. http://blogs.wsj.com/economics/2013/08/19/thailand-gdp-highlights-policy-dilemma/

But there is good news..........

The tourism sector grew robustly, with 2.1 million foreign tourist arrivals or an expansion of 21.6 per cent year on year, with a growth in the number of tourists from almost all regions, notably China and Russia.

Thanks Waza - interesting links. I guess being an economic genius is easy if you are the monopoly supplier or can change the rules of the game at will. Unfortunately it ain't so easy in the real world!

You really have to question your financial understanding if you think people who can cut and paste are economic geniuses.

[Halion]

This woman is priceless. Her government intends to increase alocations to public sector projects and she knows full well that at least 30% minimum of any allocation to a public sector project ends up in the pockets of her pals. Well at least she plays a team game.

[Ricardo]

It's missing target and has reduced for two successive quarters.

That's a recession right?

Unless it happens under a Thaksin-directed government, when it's a sign of genius, and shows that he ought to be allowed to come home & take the reigns again forthwith.

Perhaps the DSI might be directed to look into the problem, to discover how the Dems or former-PM Abhisit are responsible, and what they can be charged with ?

One can certainly look forward to this year's annual-report, listing achievements of the government, should make for hilarious reading !

Perhaps it might include :-

- "we weakened the Baht, helping the tourist-industry"

- "we made rice-exports cheaper, to help sell the rice-stocks"

- "we demonstrated the need, for even-more overseas-trips by the PM/FM, to promote goodwill & exports"

- "we made everyone more-equal, by reducing what they're worth, across-the-board"

- "we gave the media something interesting to report"

I suppose there can always be a good side to everything - given the right spin!

In which case will Thailand is shortly to become a hub of whirling dervishes ?

I would trust the PTP to give it a whirl !

[Mackie]

Thoroughly corrupted and incompetent people run Thailand at the moment. The bubble will burst and it will be painful for many Thais. Thais are corrupted but the current lot is simply insatiable.

[mikemac]

I think she is cute.

So is my youngest cat but I wouldn't want her running the country.

Hold on a minute .......... I'm not sure I've really thought that one through!

I'm not too sure about that, bigbamboo. Your cat has had as much political experience as Yingluck prior to her

"amazing" stroke of luck in becoming the bogus legitimate PM of Thailand. And besides that cats are quite smart so it probably would do a fine job.

Edited August 24, 2013 by mikemac

[johnnie20110]

This woman is priceless. Her government intends to increase alocations to public sector projects and she knows full well that at least 30% minimum of any allocation to a public sector project ends up in the pockets of her pals. Well at least she plays a team game.

Yesterday, with just five ministries having their budgets approved thus far, we're up to 163.89 Billion Baht being siphoned.

http://www.thaivisa.com/forum/topic/662983-dsi-trying-to-please-yingluck-govt/?view=findpost&p=6749869